Arab Bank for economic development in Africa names new president

Abdullah Almusaibeeh has been appointed the new president of the Arab Bank for Economic Development in Africa (BADEA).

Almusaibeeh, a current board member, was named to the position by the bank's Board of Governors, succeeding Mauritanian Sidi Ould Tah, whose tenure will officially conclude on June 30.

Almusaibeeh was elected during BADEA’s annual meeting in Kuwait City. He will take over from Tah, who has served as BADEA president since 2015.

As the new president, he will oversee the bank’s portfolio of funded projects and operations, which exceeds USD 15 billion.

He holds a degree in mathematics from Kuwait University and is recognised as an expert in international development finance.

BADEA has played a key role in crisis management, including responding to the COVID-19 pandemic, political unrest, and the war in Sudan.

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  Arab Bank for economic development in Africa names new president

The bank has also made significant investments across various African countries.